UPDATE 1-Arden Partners swings to H1 loss, no interim div

Tue Jul 14, 2009 3:19am EDT
 
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* H1 pretax loss 300,000 stg vs profit 1.3 mln stg

* H1 adj pretax profit 100,000 stg vs 1.6 mln stg

* H1 rev 4.6 mln stg vs 6.7 mln stg

* Sees positive FY as H2 started off well

* Raises 7.8 mln stg for a client

(Adds details)

July 14 (Reuters) - British stockbroker Arden Partners Plc (ARDN.L) said on Tuesday it swung to a first-half pretax loss and did not declare an interim dividend, as it faced challenging global markets.

However, the company said it sees a positive outcome for the full year as the second half started off well and commission income picked up since April, leading to a strong May and June.

Arden Partners completed a 7.8 million pound ($12.67 million) fundraising for support services provider AssetCo (ASTO.L) this week via a placement of 17.3 million shares.

For the six months ended April 30, the company posted a pretax loss of 300,000 pounds compared with a profit, before tax, of 1.3 million pounds a year ago.

Pretax underlying profit, before share-based payments of 345,000 pounds, were 100,000 pounds versus 1.6 million pounds a year ago, the company said in a statement.

Revenue fell 31 percent to 4.6 million pounds.

Arden Partners said it will not be paying an interim dividend, compared with 2.2 pence paid for the same period a year ago.

Shares of the company closed at 101.5 on Monday on the London Stock Exchange. ($1=.6155 Pound) (Reporting by Shivani Singh in Bangalore; Editing by Kavita Chandran)

 

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